property personalised
News
Unit at Turquoise sold at $2.3 mil loss
By The Edge Singapore | December 16, 2021
Follow us on  Facebook  and join our  Telegram  channel for the latest updates.

SINGAPORE (EDGEPROP) - The most unprofitable deal of the week was the resale of a 2,153 sq ft unit at Turquoise on Sentosa island. Having sold the property for $3.45 million ($1,603 psf), the seller suffered a 40% loss of $2.32 million. The unit was purchased in October 2007 for $5.77 million ($2,681 psf). Over a holding period of 14 years, this translates into an annualised loss of 4%.

Read also: Unit at Scotts 28 reaps $1.79 mil profit

The most unprofitable deal of the week was the resale of a 2,153 sq ft unit at Turquoise in District 4 (Credit: Samuel Isaac Chua/ The Edge Singapore)

Turquoise, on Cove Drive in District 4, comprises 91 units on a 99-year leasehold and was completed in 2010. It is an 11-minute drive to Harbourfront MRT Interchange Station on the North-East and Circle Lines.

On the other hand, the seller of a unit at Hills Apartment, on Goldhill Avenue, made the top gain of $3.63 million over the week of Nov 30 to Dec 7. The 3,638 sq ft unit on the second floor was bought for $2.68 million ($735 psf) in April 2004 and sold for $6.3 million ($1,732 psf) on Dec 1. The seller therefore made a 136% profit, or an annualised profit of 5% over almost 18 years.

Located in District 11, Hills Apartment was completed in 1975 and comprises 10 freehold units. It is a six-minute drive to the upcoming Mount Pleasant MRT Station on the Thomson-East Coast Line.



The second top gain made over the week — a 281% profit of $3.17 million — was at Jaya Tower, on Bukit Timah Road. The 2,024 sq ft unit on the fourth floor was purchased for $1.13 million ($558 psf) in November 2001 and sold for $4.3 million ($2,125 psf) on Dec 6. This means that the seller made an annualised profit of 7% over 20 years.

Jaya Tower, in District 10, comprises 28 freehold units and was completed in 1979. It is a seven-minute walk to Stevens MRT Station on the Downtown Line.

A unit sold at The Marbella made the third largest gain over the week, netting a 190% profit of $2.13 million for the seller (Credit: Samuel Isaac Chua/ The Edge Singapore)

A unit sold at The Marbella, along Mount Sinai Rise in District 10, made the third largest gain over the week, netting a 190% profit of $2.13 million for the seller. The 1,582 sq ft unit on the 16th floor was bought in January 2005 for $1.12 million ($708 psf), and sold for $3.25 million ($2,054 psf) on Dec 3. The seller therefore made an annualised profit of 7% over almost 17 years.

The Marbella comprises 239 freehold units and was completed in 2005. It is a six-minute drive to the upcoming Dover MRT Station on the East-West Line.

Check out the latest listings near Turquoise, Hills Apartment, Jaya Tower, The Marbella, Harbourfront MRT Interchange Station, Mount Pleasant MRT Station, Stevens MRT Station, Dover MRT Station


More from Edgeprop